(Updates to midday)
SEOUL, May 18 (Reuters) - The South Korean won KRW= hit a
two-week low against the dollar on Monday as local shares
extended falls on risk aversion amid persisting concerns over
prospects for the global economy.
The won was quoted at 1,269.9/0.6 per dollar as of 0325 GMT,
compared with Friday's domestic close KRW=KFTC of 1,257.0. It
weakened to as soft as 1,274.4, the weakest since May 6.
"Investors want a confirmed recovery as hopes for an upturn
have been largely factored in by markets. If we don't see data
showing an actual recovery, they will seek safer assets such as
the U.S. dollar," said an analyst at a local futures firm.
The domestic stock market fell 1.43 percent, with
foreign investors buying a net 60.1 billion won worth of stocks
on the main exchange.
0325 GMT 0010 GMT prev close
Won KRW= 1,269.9/0.3 1,269.9/3.1 1,257.0
Yen/won JPYKRW=R 13.3727/31 13.3660/56 13.1011/25
KOSPI 1,371.82 1,382.39 1,391.73
(Reporting by Cheon Jong-woo; Editing by Chris Lewis)
